Browsing Student theses, total by Title

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Konsekvensen af ændringerne for finansielle aktiver med hensyn til simplifikation og informationsnytte

Mani, Mariam; Holm Henriksen, Josephine (Frederiksberg, 2010)

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Abstract:

The area of financial instruments includes a high level of complexity. Therefore the International Accounting Standards Board (IASB) has been put into action to replace the existing standard apply-ing to financial instruments, IAS 39. The new standard is named IFRS 9 – Financial Instruments and is expected to be effective as of January 1, 2013. The IASB have decided to divide the project into three phases. As the IASB completes each phase, it will delete the relevant part of IAS 39 and will end up replacing IAS 39. The first phase of the project is already completed and has resulted in IFRS 9 that will apply to all financial assets within the scope of IAS 39. Because of the high level of complexity surrounding financial instruments it is within the purpose of changing this standard, that the changes will simplify the existing rules in IAS 39. At the same time the new standard need to provide the users of financial statements with more useful informa-tion. The objective of this thesis is to evaluate if these purposes are met in the new IFRS 9. The the-sis expands on the following principal hypothesis: “The consequences of the changes from IAS 39 to IFRS 9 will result in a simplification of the re-quirements for classification and measurement of financial assets regarding Danish entities and increased useful information for users of financial statements.” This thesis applies the IFRS Framework’s definition of the user of financial statements regarding the information these needs in accordance with making decisions. Thus, the new requirements of classifying and measuring financial assets are evaluated based upon the effect of the user’s value of these requirements. But the thesis also applies expert’s opinions to evaluate the use of the new re-quirements with respect to preparers of financial statements. The expert opinions are illustrated in both the use of comment letters from relevant parties and in an interview with an expert of financial instruments. Furthermore we will prepare a comparative analysis of the classification and measure-ment requirements of IAS 39 and IFRS 9 to assess the essential changes of these requirements. We conclude that the changes in requirements of classification and measurement from IAS 39 to IFRS 9 have simplified the areas of understanding, applying and interpreting the new requirements of IFRS 9. Furthermore we conclude that the changes in accordance with financial assets increases the amount of useful information provided the user of financial statements.

URI:

http://hdl.handle.net/10417/1279

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IAS 7 - Empirisk analyse af dansk praksis og anbefalinger til revision af standarden

Bønvad, Anders Kok (Frederiksberg, 2015)

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Abstract:

The thesis at hand aims at analysing how the ”IAS 7 Statement of Cash Flows” standard can be improved, in order to better fulfil the information needs of the users. The statement of cash flows is an important element in the financial reporting of a company. The statement provides the users with information about the financial liquidity of the reporting company. This information is a valuable addition to the Statement of Profit and Loss. Cash flow from operations is, to some extent, even more important than the Profit/Loss figure of the year, as it provides a strong indication about the general ”health” of the company’s operations. One of the primary concerns for the users of financial reports is comparability between different reporting entities. One of the overall goals of the IFRS standards is to assure this comparability. The IAS 7 standard has been criticised for offering too many optional methods for the reporting company, and thus causing different practices to arise amongst the companies. Furthermore, the IAS 7 standard contains a relatively unclear guidance on a number of issues, which results in heterogeneous practices. This thesis seeks to identify and map out all the problematic issues surrounding the IAS 7 standard. In order to do so, the literature on the subject is reviewed, primarily focusing on writers who address one, or more, problematic issues. A problematic issue is one, which causes impaired information to be offered to the users. If the writer offers a possible solution to the issue in question, this solution will be included in the mapping of the field of literature. The literature identifies a number of areas, including the optionality between direct or indirect method, the use of Alternative Performance Measures, and the definition of cash and cash equivalents. An empirical analysis of 115 Danish companies is carried out in order to investigate, whether the identified problematic issues from the literature review are in fact also issues that can be observed in practice. In other words, the empirical analysis seeks to assess whether the market has come up with possible solutions to the issues, or whether the issues are in fact causing problems for the users of financial reports. This is particularly focused on impaired comparability between different companies, due to differences in reporting practice caused by the optionality in IAS 7. The empirical analysis reveals that the market has created its own solutions to a number of the problematic issues identified in the literature review, for example the classification of interest and paid dividends. However, the majority of the identified issues have not been solved by the market, and thus differences in practice are impairing the users’ ability to compare companies. Some of these issues include; the reporting of AlterKandidatafhandling cand.merc.aud – Anders Kok Bønvad IAS 7 - Empirisk analyse af dansk praksis og anbefalinger til revision af standarden 2 native Performance Measures, the reconciliation from Profit or Loss to Operating Cash Flow, and finally the elements included in cash equivalents. The empirical data is segmented based on company size, in order to search for best practices among the top companies, as they generally spend more resources on financial reporting than smaller companies. The segmentation reveals a number of trends among the top companies, for example in relation to the reporting of the Alternative Performance Measure ”Free cash flow”. The data is further segmented based on the “signing off” accounting firms. This reveals a number of interesting practices amongst the accounting firms, for example that Deloitte is emphasising the use of EBIT in the reconciliation from Profit or Loss. Finally, a list of recommendations is prepared for a possible future audit of the IAS 7 standard. The proposed recommendations are backed by either: a) the results from the empirical study; b) the solutions offered by the academic writers; c) the observed best practice among the top companies or accounting firms; or d) the author’s own opinion if needed – or a combination of the above. The compiled list of recommendations are summarised in a figure, providing an overview of how the IASB could update the IAS 7 standard to better fulfil the users’ information needs. The proposals include a recommendation to mandate the use of the direct method and to make the reporting of ”Free cash flow” mandatory. However, the recommendations are only proposals and may not be fully applicable for the IASB. The most important goal of a future update of IAS 7 is to get rid of the optionality and unclear guidance, which results in different practices amongst companies and impairs the users’ ability to compare financial information.

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http://hdl.handle.net/10417/5460

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IASB/FASBs konvergensprojekt vedrørende omsætning

En konsekvensanalyse af ”Exposure Draft 2011- Revenue from Contracts with Customers” i forhold til den nuværende praksis for indregning og måling af omsætning

Tran, Tinh Thi (Frederiksberg, 2012)

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Abstract:

Revenue is a crucial figure to users of the financial statements in assessing a company’s financial perfor-mance and position. At the same time revenue is also the most common source for manipulation and fraud with the companies’ financial statements which is shown by the many corporate scandals and bankruptcies in recent years. Furthermore, the company’s sales transactions have over time become more complex. It is therefore essential that there are applicable and consistent regulations for revenue recognition. However, revenue recognition under International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) differ in many ways from the US generally accepted accounting principles (US GAAP). While IFRS and IAS are principles-based and contain no guidance on specific areas, US GAAP is rules-based and provides more than 200 standards, guidelines and interpretations for specific business and indus-tries in relation to revenue recognition. To enable transparency and comparability of the financial statements across industries and borders, the Inter-national Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) have therefore made an agreement on developing one single standard for revenue recognition. On-going from 2002, the Exposure Draft of the revenue standard was initially published in October 2010 for public hearing. IASB and FASB received massive feedback on this Exposure Draft from the respondents consisting of private and public companies as well as interest groups and professional organisations. IASB and FASB therefore found it necessary to revise the Exposure Draft. The second Exposure Draft – Revenue from Con-tracts with Customers (ED 2011) was published in November 2011 also for public hearing. A final version of the revenue standard is expected to be published by the end of 2012 with the effective date of 1 January 2015. The proposed revenue standard will replace the existing revenue recognition standards, guidelines and inter-pretations regarding revenue recognition under IASB and FASB. The objectives of the proposed revenue standard are; to remove inconsistencies and weaknesses in existing revenue requirements; provide a more robust framework for addressing revenue issues; improve comparability of revenue recognition practices across entities and industries; provide more useful information to users of financial statements through im-proved disclosure requirements and simplify the preparation of financial statements by reducing the number of requirements to which an entity must refer. Based on the above information, the aim of this thesis is to gain an insight into the ED 2011 and to analyse how the proposed revenue standard will impact revenue recognition compared to current practice of revenue recognition and measurement. Based on the impacts of ED 2011, the aim of the thesis is also to analyse if the proposed revenue standard will be able to fulfil its objectives and provide values for users of financial statements as well as prepares. In relation to response the above mentioned aims, an understanding of the general purpose of financial reporting and current regulation of revenue recognition according to IASB and FASB is needed. This thesis will therefore begin with a clarification of the Frameworks under IASB and FASB which contain the core definition and criteria for recognition and measurement of revenue and also the objectives of the general purpose of financial reporting. Subsequently a description of the current regulation of revenue recognition and measurement under IFRS/IAS and US GAAP will take place followed by an impact analysis of the ED 2011. The result of the impact analysis will be evaluated and compared with current practice of the revenue recognition and measurement from a Danish perspective. The impact analysis shows that the principle-based approach in the Framework and also in accordance with current revenue standards of IASB is carried on in the ED 2011. Definition and criteria of recognition and measurement in relation to revenue are all based on same accounting theory as of IASB. However, the proposed single contract-based model for revenue recognition contains new and significant elements contrary to the current practice for revenue recognition. When determining the transaction price, the entity must not only take all variable elements into consideration, but time value of money is also an obligation. Furthermore, when allocating the transaction price to the separate performance obligations in the identity contract, it has to be done by the separate performance obligation’s stand-alone selling price. In addition, ED 2011 does not focus on the criterion “individually negotiated contract” which under current practice of IFRS/IAS remains the core criterion for recognition of revenue over time in relation to contracts with multiple elements. The above mentioned new elements in ED 2011 sound simple on paper but turn out to be very complex to implement in practice. The elements involve not only the company’s ability to consider and determine the required estimates and judgements even more compared to current practice, but will also led to a significant change of the company’s accounting system in relation to compliance the proposed extended disclosure requirements. The ED 2011 will therefore undoubtedly be very costly to implement and apply within practice and more important, leaving the companies with a greater scope for interpretations and flexibility in relation to determining estimates and judgements. This may eventually lead to even more manipulation and fraud on revenue in the companies’ financial statements. The ED 2011’s ability to fulfil its objectives is therefore doubtful.

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http://hdl.handle.net/10417/3753

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IC Companys

Assessment of IC Companys’ share price on 30th June, 2011 from the investor’s point of view

Ngoc Jacobsen, Lan (Frederiksberg, 2011)

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This assignment is about value assessment for IC Companys (ICC), one of the Danish market leaders in fashion. The company’s share’s fluctuation during the last 5 years was the reason for the author’s interest of making “Assessment of one IC Company’s share price on the 30th June, 2012 from the investor’s point of view”. Being markets number two fashion producer in Denmark, ICC has experienced a turbulent market since 2008/2009. A look at external environment revealed that ICC’s performance during the last 5 years was not only a consequence of itself, but also the result of a chaotic market. ICC’s recovery during the 2010/2011 was admirable, despite heavy loss at starting of the finance crisis. ICC differentiates among competitors with multi-brands strategy in the middle-price segment. The company has entered the low segment of high-end market by purchasing two competitors: Tiger of Sweden and By Marlene Birger in 2003. The company’s vision is to be “one of the best developers of sport and fashion brands”, highlighted that ICC is not only a fashion producers, but also a sport clothing maker. ICC is selling through wholesale and retail shops, although business to business is the main part or 61 % of total revenue in year 2010/2011. ICC’s performance in the last 5 years against its competitors in the industry was examined thoroughly from available information such as released annual reports and diverse sources of information. In comparison with the middle-price segment, ICC was doing well with higher return from operating activities. Benchmarking with Esprit, ICC has lower cost of goods sold and other operation costs, despite of having high staff costs and paying higher corporate tax. ICC financial structure is solid at the rate 76/24 for equity and debt. The company aims to reduce debt further thus reduce cost of debt in the future. ICC’s future growth from 2012 to 2016 was estimated positive based on the company’s historical performance and forecast growth on major markets. Estimations and assumptions for ICC’s budget are the subjected of adjustment, as they can be changed with time. Budgeting future cash flow for ICC was to find the answer for ICC’s enterprise value and share value. By the Discounted Cash Flow method, ICC was evaluated at 3589,4 million DKK and share value at 217,3 DKK per share at 30th June, 2011. The assessments also tested ICC’s enterprise value at different scenarios, where ICC’s value was lowest when profit margin change and nearly unaffected at change of capital structure. Evaluated at a price that is slightly lower than the actual market price, ICC’s share is recommended “hold” status

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http://hdl.handle.net/10417/3265

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Icelandic female entrepreneurs

Distinguishing characteristics and the effects of the economic crisis

Skúladóttir, Laufey Kristín (Frederiksberg, 2013)

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URI: http://hdl.handle.net/10417/4227

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The ideal aesthetics

Transmedia storytelling in contemporary brand communication

Holsteen Larsen, Per; Høgsberg, Tobias Maria (Frederiksberg, 2009)

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In recent years we have witnessed an explosion in the amount of branded communication and advertising the average consumer is exposed to. This has contributed considerably to changes in the way we as consumers use and draw on brands, and consequently transformed a brand’s ability to reach the consumer. Contemporary consumer culture is characterized by an increasing anti-brand sentiment spawned by a new sense of empowerment among consumer, expansionary individualism and an increased concentration on personal identity projects. Consumers are no longer content with being left passive in the consumption of information and entertainment – They want to be actively included and feel engaged. The dialectic relationship that exists between consumer culture and brands is heavily shaped by these changes in consumer culture. As a result, the role of the brand is shifting to an increased focus on its ability to contribute to the consumers’ personal identity projects as a cultural resource. Consumers will assess and evaluate a brand based on its capability to deliver expressive cultural material, which strikes their imagination and helps them interpret the world in which they exist. The concept of transmedia storytelling presents a new method of brand communication which caters to these changes in consumer culture. It is characterized by its rare ability to disperse information on multiple media platforms, create performative roles which activate the consumer, and present multifaceted communication with the necessary profundity needed in order to capture the attention of a spoiled audience. Through its unique ability to create complex and open fictional worlds, often with a vast amount of characters and sub-stories it leads the audience towards searching for further information on this world and its inhabitants. The involving and engaging nature of this way of communicating creates a situation where consumers become involved with the communication, sometimes as cocreators or co-authors, i.e. the former one-way-communication transforms into a collaboration or dialogue between corporation and consumer. Exploiting this type of communicative tool and its entailed ability to build complex worlds can be a successful way of communicating your brand or product to contemporary consumers. However, a relevant and credible inclusion or use of the brand is absolute key if the combination between entertainment and brand is to flourish and reach new heights. If successfully implemented, this type of communication can be highly effective in reaching the contemporary consumer and in winning the trust of this media-savvy audience, typified by its suspicion towards branded communication. The involvement can forge a strong relationship and connection between brand and consumer which should lead to loyalty and the willingness to share positive experiences and connotations.

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http://hdl.handle.net/10417/436

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Idealism and intentional ignorance

Manifest destiny in US foreign policy

Aagaard, Michael Lykke (Frederiksberg, 2009)

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Abstract:

Formålet med dette speciale er at undersøge, hvorvidt det er plausibelt, at Manifest Destiny-ideologien bliver brugt i Amerikansk politisk diskurs til at fremme bevidst uvidenhed i forhold til USAs udenrigspolitik. USA har spillet en unik rolle i verdenshistorien og har opnået enestående politisk, militær og kulturel indflydelse. Sådan en anselig magtposition kommer dog ikke problemfrit, og amerikansk indblanding i internationale anliggender er ofte blevet kritiseret og fordømt af store dele af verdenssamfundet. Især USAs villighed til at bruge sit enorme militærapparat til at opnå mål har givet anledning til modvilje. Bush-doktrinens fokus på præventiv krig og Bush-administrationens beslutning om at invadere Irak i 2003 konsoliderede billedet af USA som en aggressiv og arrogant stormagt. Denne indstilling er blevet et problem for USA, eftersom mange i dag anser USA som den største trussel mod verdensfreden. Den amerikanske militærhistoriker og udenrigspolitiske rådgiver Max Boot forsvarer invasionen med, at Amerikansk udenrigspolitik altid har været motiveret af idealisme og et ønske om at beskytte menneskeheden. Denne tro på, at USA besidder en iboende retskaffenhed og er drevet af messianske motiver, er meget nært beslægtet med Manifest Destiny-ideologien – den amerikanske ide om at USA er udvalgt af gud som et skinnende historisk eksempel, der skal lede verden frem mod lyset. Ifølge den amerikanske historiker Anders Stephanson er Manifest Destiny-ideologien dybt rodfæstet i det amerikanske samfund, og den kan spores helt tilbage til de tidligste Puritanske nybyggere. Den Amerikanske lingvist og politiske samfundskritiker, Noam Chomsky, stiller sig mere tvivlsomt overfor den iboende retskaffenhed i amerikansk udenrigspolitik og mener, at amerikanere praktiserer bevidst uvidenhed i forhold til amerikansk udenrigspolitik – forstået på den måde at USA ikke lever op til de høje idealer og målsætninger, der opstilles i den udenrigspolitiske diskurs. Ifølge den engelske professor i lingvistik Norman Fairclough, er styrken af en ideologi knyttet til dens evne til at blive en del af vores ”sunde fornuft” og derved en implicit filosofi, der udfylder huller i vores forståelsesramme. Den engelske kulturteoretiker Terry Eagleton tilføjer, at ideologi drejer sig om at legitimere etablerede magtforhold. På baggrund af tre af de ovennævnte teoretikere og empirisk data i form af tre relevante case-studier (Første Verdenskrig, Koreakrigen og Irakkrigen), har jeg udført en kvalitativ og deduktiv analyse, der har ført til følgende resultater: Manifest Destiny-ideologien kan spores i diskurs fra den amerikanske politiske, religiøse og intellektuelle elite i tidlig amerikansk historie op til nutidige politiske ledere. De tre taler analyseret i denne afhandling bærer alle præg heraf. De tre case-studier viser, at USA i mange henseender ikke har levet op til idealer og mål erklæret i den tilhørende diskurs. Dertil kommer, at mens USA kæmpede i udlandet for at håndhæve amerikanske værdier som frihed og demokrati, blev disse værdier underkendt i USA af regeringen under henholdsvis the Sedition Act, McCarthyism og the PATRIOT Act. Med udgangspunkt i de førnævnte teoretikere og den analyserede empiri er det i høj grad plausibelt at Manifest Destiny-ideologien er en implicit filosofi, der udfylder huller i den gængse amerikaners forståelsesramme og bliver brugt i Amerikansk politisk diskurs til at fremme bevidst uvidenhed i forhold til Amerikansk udenrigspolitik.

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http://hdl.handle.net/10417/656

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Ideas in Discourse

How non-Material Means of Power Exertion Shape Policy

Rest, Vincent (Frederiksberg, 2015)

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The role of the state as the most powerful entity within the political system has doubtlessly waned. This is due to several larger transformations that have impacted and altered global politics - transformations such as the end of the cold war, rapid technological progress and economic globalization. Along came a decentralization of power outlets that determine political decision-making. Traditional means of power exertion that were usually executed by a state authority, such as military force or financial capacity, no longer enjoy an exclusive status. Rather, non-traditional discursive means have gained influence. Discursive power entails the ability to dominate the political debate with certain ideas and thus control public opinion. Holzscheiter (2005) argues that the less formalized the policy venue the higher is the likability of discursive power to prevail. International politics lacking a central authority exactly fit this case Ideas help individuals make sense of complex situations and guide action. This is particularly the case, when ideas are taken as given conventions and manifest in institutions. Once they are institutionalised, there is higher probability of an idea being realized in policy practice. Ideas are exchanged through discourses, whose partakers are confronted with different sets of ideas that constitute frames. Discourses serve as forums for the formulation of policy problems and proposals for their solution. Discourse partakers can influence the dynamics responsible for the emergence of a dominant idea through different means and strategies, such as employing frames for argumentation. Actors who lack the means to exert coercive power can instead generate larger networks of like-minded adherents. These networks can be referred to as Transnational Advocacy Networks (TAN) (Keck and Sikkink 1998) and extensions can entail an expansion of the geographical scope or to actors from different societal domains By applying discourse-historical critical discourse analysis (Wodak 2011b), I examine the strategies TANs employ within a discourse. The case discourse deals with the conflict between rigid enforcement of intellectual property protection and access to medicines. In order to isolate reasons for why certain ideas gain more attention than others, I will apply frame analysis (Benford and Snow 2000) and compare two policy proposals discussed within the discourse

URI:

http://hdl.handle.net/10417/5676

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Identifisering av suksessfaktorer for implementering og bruk av Enterprise 2.0 teknologier i informasjonsbaserte organisasjoner

Rønning, Lasse (Frederiksberg, 2009)

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Abstract:

This thesis aim to identify success factors for implementation and use of Enterprise 2.0 technologies in large information based organizations. This is motivated by the fact that more and more businesses are venturing into this new and exciting world without having clear guidelines and even clear goals on how to approach these web based technologies that provide rapid and agile collaboration, information sharing, emergence and integration capabilities. This thesis argues that even though technology is an important factor – Enterprise 2.0 should not be about technology, it should be about people, conversations and knowledge sharing. To achieve this, a deeper and more distinct understanding of the term is needed. This involves recognizing the value of the knowledge worker and the value of knowledge itself as a business’s most important asset. To be able to facilitate increased productivity of knowledge workers is one of the most important tasks businesses will have to deal with in order to gain competitive advantages. In this relation, Enterprise 2.0 shines by giving knowledge workers better tools to tap into both information and people. It does this by leveraging emergent structures in the interactions between and among employees inside the organization. Enterprise 2.0 tools are more asyncous and better adapted, to both the user and the work process, than the existing tools that we use. Better collaboration and more efficient communication are identified as the two main outcomes when Enterprise 2.0 works. An explosive interest in Enterprise 2.0 among businesses means that academics now are playing catch up. Because of this a framework for identifying success factors had to be developed. This framework is used to extensively analyze the case of EMCs journey into Enterprise 2.0. Based on the analysis a number of success factors could be identified. The conclusion is that aligning Enterprise 2.0 with business goals should be considered vital to success. A holistic approach is needed and organizations should facilitate a bottom up culture by providing support, guidlines and the appropriate resources.

URI:

http://hdl.handle.net/10417/946

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Identitet i en forandringsproces

Sensemaking, Organisation og forandringsledelse

Allerup, Signe Winther (Frederiksberg, 2015)

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URI: http://hdl.handle.net/10417/5335

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Identity mismatch

When brands fail to speak to consumers

Lam, Quynh Tuyet; Merdanovic, Aida (Frederiksberg, 2011)

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Abstract:

In this paper we have pursued to investigate the underlying reasons for Tempt cider’s lack of significance/relevance held by consumers – the so-called ‘blandness predicament’ that largely is attributed to being a phenomenon that concerns many low-involvement consumption goods. Essentially, in an everyday, ordinary purchasing situation, consumers are primarily driven by two factors: 1) the awareness/familiarity with a brand and 2) the price (and naturally availability). In the case of Tempt, we find that consumers belonging to Tempt’s primary target segment are well-familiar with the brand as it remains amongst the top three most recalled cider brands with our investigated respondent group, however, comparison with Somersby is unremitting and by means of familiarity and price, the two contenders seem to stand head to head. Given the fact that Somersby holds a dominant, unwavering position in the Danish cider market as well as with the Danish consumers, respectively, granted its pioneering role of having been the driving force behind the recent cider-drinking tradition in Denmark, they remain a hard competitor to beat and its folksy appeal, in essence, embraces a large and wide consumer segment, including those of Tempt. Thus, we contend that being “one of the followers”, by simply endeavouring to hold high brand awareness with consumers is a strategy rendered unsustainable in the long run. Taking the example of low-involvement consumer goods products, such as Budweiser, testifies to the fact that endowing the brand with symbolic relevance and cultural significance that contribute to consumers’ identity formation process, can lead Tempt cider out of its downward spiral of being a bland brand. Hence, in our attempt to unveil the underlying reasons for the assigned irrelevance to the brand, we turn our focus onto the consumers in our theoretical discussion as well as in our empirical research conducted. Fundamentally, we need to profoundly and holistically understand consumers’ life worlds and social reality before we can establish symbolic cues and appeals that they consider imperative to their self-perception. Consumer identity theory, thus, serves as the theoretical groundwork from which we can assess the consumer-brand image congruence to predict consumer purchasing behaviour. To this end, we found that the symbolic properties and associations of Tempt’s brand image proved to be deviating from consumers’ desirable self-images (actual-, and ideal self) and taking that consumers predominantly engage with products/brands that correspond with their own ideals, ambitions, emotions and self-definitions, a subsequent lack of involvement on their part is prevalent. Granted that Tempt cider is neither placed higher nor lower in consumer preference than other cider brands available in the supermarket, ultimately, leaves price as the final selection criterion. To overcome such inauspicious competitive circumstances, Tempt must therefore better reflect and convey the ideals that speak to consumers on a personal level by building congruence into the company’s internal as well as external processes. In line with this, we urge Tempt cider to better integrate the brand concept into the core of the organisation or with the respective team managing the Tempt brand on a daily basis. A concord between the different processes and functions must be installed to generate a coherent brand image that is clear and unmistakable to consumers. Secondly, Tempt needs to endow its brand with symbolic values and ideals that consumers can embrace and actively use to project their self-held images and express their identity. Taking point of departure in our assessments made of Tempt’s inhabited imagery world, from which Tempt’s brand image transpires, intrapersonal values, i.e. personal qualities, comprise significant indicators of the target segment’s self-understanding, consequently, we advocate a heavy emphasis laid on these in Tempt’s future conducts. Lastly, we suggest that Tempt takes patent on a particular situation or sentiment that provides a frame of consumption that differentiates the brand from other cider alternatives, herein the “folksy” Somersby. Surely, our suggestions put forth build on one another providing for a greater coherence, and we believe that by means of adopting such propositions, greater relevance/significance will be granted by consumers to the Tempt brand in the time to come.

URI:

http://hdl.handle.net/10417/2336

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Idiom Translation from English into Danish

An empirical study of cognitive effort and translation strategies in idiom translation

Tangsgaard Hvelplund Jensen, Kristian (Frederiksberg, 2007)

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URI: http://hdl.handle.net/10417/6316

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IFRS 13 – Fair Value Measurement

Set fra et informationsperspektiv

Elverum, Oda Ivarsson (Frederiksberg, 2012)

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Abstract:

This thesis is written with the objective of a review of the accounting standard IFRS 13 – Fair Value Measurement, effective from January 2013. Definitions and guidance for disclosure have earlier been spread out in several standards within the IFRS, but with the new IFRS 13, all requirements are collected in one standard. The thesis seeks to examine, whether the new standard will benefit both preparers and users of financial statements. The thesis’ overview of IFRS 13 concludes that the standard’s main focus is to determine fair value on a mark-to-market basis; to find a fair market value, independent of the organisation’s use or intentions for the asset or liability measured at fair value. The thesis examines financial information and its value to users. Different scientist has different views on the value of information when making economical decisions. While William Beaver states that additional, costless information can never be worse for the investor when making investment decisions, research by O’Reilly refutes this. He proves that decision makers in a state of information overload take inferior decisions compared to their relatively less informed counterparts. However, the over informed decision maker is more content about his situation than the less informed investor. Fighting information overload and creating better communication in financial reporting have been the main objectives for the Financial Reporting Council (FRC) when developing the Cutting Clutter project. The preliminary research to the project confirms O’Reilly’s conclusions, as the users of financial statements are generally pleased with the size of annual reports, while preparers believe that accounting standards are too complex. The FRC has developed four guidelines for better communication in financial reporting, as well as four guidelines for better communication in standards. These guidelines form the basis of the evaluation of IFRS 13. The thesis concludes that IFRS 13 – Fair Value Measurement is a high-quality and clearly formulated standard, which should benefit both users of the standard and the subsequent financial report. However, there should be more focus on materiality in the most aggregated disclosures required by the standard.

URI:

http://hdl.handle.net/10417/3431

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IFRS 15

En matematisk analyse af omsætning fra kontrakter behandlet efter IFRS 15 og de standarder den erstatter

Schow Jensen, Peter (Frederiksberg, 2016)

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Abstract:

The purpose of this thesis is to construct a comprehensive mathematical model that describes revenue recognized under IFRS 15 across various industries with large contract variations. Further the model is used to analyze the overall changes in revenue recognition that occurs after the introduction of IFRS 15 in relation to the standards it replaces. IFRS 15 Revenue from Contracts with Customers are going to change how firms are supposed to detect revenue per accounting period, their revenue recognition process. One of the most the most recited critiques of IFRS 15 is that it is impossible to make a good specific revenue standard based on contracts that works across all industries, industries with huge contract differences. The thesis counters the critique by constructing a comprehensive mathematical model that proves that the fundamental mathematical aspect of IFRS 15 is quite simple and the same across all industries. The thesis further states the point that a comprehensive mathematical interpretation of IFRS 15 is closer to the real world than classical simple examples because it shows how accounting software, or a company made Excel model, would calculate and recognize revenue under the rules of IFRS 15. The thesis then compares the mathematical interpretation of IFRS 15 with a mathematical model of IAS 11 and IAS 18 built on the same principles to analyze the overall changes in revenue recognition that will occur after the introduction of IFRS 15 in relation to the standards it replaces. The analysis of the different standards reveals that there are four common key contract factors that IFRS 15 potentially account for differently than IAS 11 and IAS 18. All four factors boost each other’s potential effect on revenue recognition when moving from IAS 11 or 18 to IFRS 15. The four key contract factors are the complexity of the contract, the length of the contract, the discount in the contract as well as variable consideration present in the contract. The more a company or an industry uses complex long contracts with discount and variable consideration the bigger effect IFRS 15 will have on their revenue recognition. Opposite, IFRS 15 is not going to have a notable effect on companies or industries that sell simple products in short contracts. The different potential effect could be the reason why the telecommunication and software industry with complex contracts have been way more critical of IFRS 15 than the retail industry which sells products with simple often unwritten contracts.

URI:

http://hdl.handle.net/10417/6200

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